While Atlantic City was once the dream getaway for all classy and sassy New Yorkers and New Jerseyites it seems like those times might be coming to an end. New Jersey casinos for the year of 2008 experienced incredibly disheartening revenue losses. The total revenues for casinos for the state of New Jersey sank by about 7.6% over the course of 2008. For the month of December alone, compared with the revenue it earned back in 2007, 2008 was sorely depressing with an 18.7% drop in revenue.

The overall earnings for the casinos was $4.5 billion for the year of 2008. That doesn’t seem too bad but when you factor in how well they were doing just one year ago, it does not bode well for an increasingly fragile industry. The New Jersey Casino Control Commission recently released these troubling figures and it seems as though the east coast’s answer to Las Vegas has definitely come up son tough times. One of the top casinos, Borgata is still doing fairly well in attracting a variety of big-time players who are looking around for some stellar poker action.

With the national economy in the sorry state that it is in it is really no wonder that Atlantic City and other casinos within the state of New Jersey are seeing a decline in profits. Few areas of commerce have been ale to hold up and retain any sort of immunity to these financially vulnerable times. Another factor that has negatively affected casino business is the increase in smoking bans throughout the area.

Tags: atlantic city casino revenue, new jersey casinos

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